| Assets valuation in the western developed countries has a wealth of theoretical and practical experience. At present, study on assets valuation is still on the stage of development, especially less in research of valuation methods on urban gas company. This article is intended to give some consideration on characteristics of the gas industry and its influence on urban gas company assets evaluation. Through a variety of methods, it's to find out the most suitable method for assets evaluation, and it's also to provide a more correct assessment for the merger and restructuring of urban gas to make the whole industry fairer and more orderly.The first chapter of article introduces the background and its meaning of the study, and introduces the contents. The second chapter analyses the gas company basic characteristics and the impact on assets valuation of the enterprise. The third chapter is introduce the asset evaluation theory, and theoretically comparative analysis of basic evaluation methods:Cost method or Market approach and Income approach, and indicate Income approach is the fine method for urban gas companies assets valuation. Chapter 4 is the study of the gas company assets valuation, and arrive at the following conclusions:For urban gas company, under the influence of the industry, Income Approach is more reasonable to the assets valuation. It's more accurate for the company to be assessed according to the expected return. Use Income Approach must in evaluating scientific method, strict procedures for the income, the income limit and discount rate are under consideration. The more accurate these parameters are, the more accurate the evaluation is. The use of the process of all parameters is established in accordance with objective, but there is a subjective judgment. In the evaluating process, accurate estimate of the growth rate and a reasonable forecast are needed for coming to a more accurate assessment of results.The article is worth of reference value of other urban gas company. |
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